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Home Insurance policy

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    Home Insurance policy

    House or property insurance policy is actually made to take care of your house from what is know as“perils. A peril, as known in an insurance policy, is an exposure to danger or anything that can leads to loss or destruction is also particular risk and cause of damage protected by an insurance plan, for example fire, wind, gale, hurricane, cyclone, tornado, flooding, or theft. A peril insurance policy covers the policy owner just for the risks mentioned in the insurance policy.

    The 4 different types insurance for your home by insurance companies, are:

    1. Loss - When a loss takes place because of a covered peril and the house becomes uninhabitable, the expense of extra living costs is covered. Repayment of extra living costs covers the expense to the insured for keeping a good standard of living.

    2. Home - The structure of the home is regarded as a covered property.

    3. Personal Property or home - The items in your house are your own personal property. This consists of household furniture, home appliances and clothes. Also note that not all personal property is protected. Items are more properly covered under various types of insurance policy.

    4. Other Structures - They are structures or building that are separated from your house, or attached to the house by wire and
    fence but not in any other case connected to the house.
    Life always offers you a second chance. It's called tomorrow.

    Home insurance is a type of insurance product that protects your property and belongings.it also provides liability coverage against accidents in the home or in the property.

    Understanding Homeowners insurance: when the mortgage is requested on a home the home owner is required to provide proof of insurance on the property before the lending bank can issue him or her a mortgage Home owners who prefer to get the insurance policy can compare multiple offers and pick the plan that words best for their needs. If the home owner does not have the property covered from loss or damages bank may obtain one for them at an extra cost.Payments made towards the home insurance policy that are usually included in monthly payments of the homeowners mortgage.

    What does homeowners insurance cover:
    A homeowners insurance policy usually covers four incidents on the insured property interior damage ,exterior damage loss or damage of personal assets and injury that arises while on the property.And ever home owners insurance policy has a liability limit which determines the amount of coverage that the insured as should an unfortunate incident occur.There are two types of home insurance.
    1)Buildings insurance: It covers the cost of repairing damage to the structure of your property.And this includes walls windows and roof as well as permanent fixtures and fittings.
    2)contents insurance: it covers the cost of replacing belongings in your home if they are damaged destroyed or stolen.


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